The size of the global market for power electronics was USD 37.40 billion in 2021, and it is anticipated to grow in value at a CAGR of 4.1%. A major driver influencing market revenue growth is the growing need for environmentally friendly and sustainable solutions, particularly in light of growing worries about Carbon Dioxide (CO2) emissions and global warming. Additionally, end-use businesses are investing in dependable and secure power electronics as a result of their growing awareness of the advantages of energy-efficient infrastructure. In numerous regions, this has greatly boosted industry revenue growth. By integrating Insulated Gate Bipolar Transistor (IGBT) technology into inverters, Uninterruptible Power Systems (UPSs), and switching devices for static var compensators from thyristors or Gate Turn Off Thyristors (GTOs) to high power IGBTs, power electronics play a significant role in improving efficiency and performance. Additionally, low-loss and high-performance devices have been marketed.
As per the latest report published by Emergen Research, the global market development is majorly supported by a considerable rise in the demand for products and services offered by this industry. A detailed synopsis of the Power Electronics market valuation, revenue estimation, and market statistics is a key component of the report. Hence, the report aims to help readers gain viable insights into the competitive spectrum of the Power Electronics market.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
Infineon Technologies AG, Onsemi, STMicroelectronics, Mitsubishi Electric Corporation, Vishay Intertechnology, Inc., Fuji Electric Co., Ltd., NXP Semiconductors, Renesas Electronics Corporation, Texas Instruments Incorporated, and Toshiba Corporation
Research Report on the Power Electronics Market Addresses the Following Key Questions:
- Who are the dominant players of the Power Electronics market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Power Electronics market?
- What are the key growth drivers and restraining factors of the Power Electronics market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Power Electronics market and its key segments?
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Emergen Research has segmented the global Power Electronics market on the basis of type, type of care, and region
Segments Covered in this report are:
Device Type Outlook (Revenue, USD Billion; 2019-2030)
- Power Discrete
- Power Module
- Power Integrated Circuit (IC)
Material Outlook (Revenue, USD Billion; 2019-2030)
- Silicon
- Silicon Carbide
- Gallium Nitride
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Power Management
- Drives
- Rail Traction
- Transportation
- Renewables
- Others
In conclusion, the Power Electronics Market report is an exhaustive database that will help readers formulate lucrative strategies. The Power Electronics Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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